INDONESIA - Increase in Tor Uluala gold and silver resource

G-Resources has confirmed an increase in the gold and silver resource estimate at Tor Uluala deposit within the Martabe project in western Sumatra. The new JORC-compliant estimate puts total contained gold at 920,000 ounces and 7.8 million ounces of silver with average grades of 0.9 grams/tonne gold and 7.7 grams/tonne silver. 

This increase provides a new total resource at Martabe of 8.05 million ounces of gold and 77 million ounces of silver. Tor Uluala is about 2km from the processing plant at the site.

G-Resources’ chief executive officer Peter Albert says, “We are pleased to announce the continued growth of the resource base at Martabe. This upgraded resource at Tor Uluala deposit clearly demonstrates the upside in and around the existing ore bodies. We expect further upgrades as exploration drilling continues.”

The flagship $678 million Martabe project began production in July this year and is ramping up to full annual production capacity of 250,000 ounces of gold and 2-3 million ounces of silver.

Located in the Batangtoru sub-district, Peter Albert says Martabe is set to become the core asset on which the company will base a globally competitive Asia-Pacific focused gold business.

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